Regions Insurance Group, a subsidiary of Regions Financial Corp. in Birmingham, Ala., said it has bought the customer accounts of Galbreath Insurance Agency in Memphis through its Rebsamen Insurance Inc. unit.
Rebsamen, which is headquartered in Little Rock, Ark., bought all the commercial and personal insurance accounts of the Galbreath Agency, it was reported this week. The deal's terms were not disclosed. The agency's principals, George Clarke Jr. and George Clarke Sr., and their staff joined Rebsamen in its newly opened Memphis office.
The deal gave the Regions unit entry to the headquarters city of Regions Insurance Group; the parent's brokerage and investment banking subsidiary, Morgan Keegan & Co. Inc.; and Union Planters Corp., which it bought last July.
